Automated Fingerprint Identification Systems Market (Component - Software, Hardware, and Services; Identification Type - Tenprint Identification, and Latent Print Identification; End User - BFSI, Healthcare, Government, Transportation, Automotive, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

A recent report published by Infinium Global Research on the automated fingerprint identification systems market provides in-depth analysis of segments and sub-segments in the global as well as regional automated fingerprint identification systems market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional automated fingerprint identification systems market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global automated fingerprint identification systems market. According to the report, the global automated fingerprint identification systems market is projected to grow at a CAGR of 18% over the forecast period of 2021-2027.

Market Insight

The revenue generated by the market was approximately USD 6 billion in 2021 and is expected to reach approximately USD 16 billion in 2027. The Automated Fingerprint Identification System (AFIS) is a biometric system that searches and compares a computer database of fingerprint records to distinguish between recognised and unfamiliar fingerprints. A modern, automated fingerprint identification system (AFIS) can search over a billion fingerprint records in a single second. The AFIS' transformation into a highly efficient and effective technology capable of shifting through massive datasets and providing probable fingerprint matches in a matter of minutes is the result of five decades of research and development. The AFIS finds its origin in the 1960s, during the electronic revolution. The AFIS finds its application in a wide range of industries. It is being actively demanded as AFIS has become relevant in modern identification management systems. The two categories that fall under AFIS are Tenprint Identification and Latent Print Identification.

Automated Fingerprint Identification Systems are being widely adopted in BFSI. These systems are being integrated with automatic teller machines, or ATMs, to ensure the security of cash withdrawals and deposits. Furthermore, integrating automated fingerprint identification systems with the BFSI systems is helping the BFSI industry to offer paperless and hassle-free services such as account opening to their customers. In recent years, the migration of people has taken place at a huge level. Some of the immigrants adopt illegal methods to enter the country, which may increase the threat of terrorist attacks. According to the Annual International Migration and Forced Displacement Trends and Policies Report to the G20 by UNHR and the OECD, there were 12.5 million new permanent and temporary immigrants in 2019 in G20 countries. The immigrants need to be documented carefully and automated fingerprint identification systems play an important role in this process and also substantially decrease the terrorism threats that may emerge in the form of immigrants. The growth of the market may be restrained as AFIS is vulnerable to cybersecurity threats. Nevertheless, new growth opportunities are in foresight as new technologies such as AI and ML are emerging in the market. The integration of these new technologies with AFIS is expected to increase its speed, efficiency, and accuracy.

North America is expected to dominate the market over the forecast period. North America has been one of the pioneers in biometric authentication technologies. Automated fingerprint identification systems are also being largely adopted and developed in North America. Governments, law enforcement agencies, BFSI, and healthcare are some of the major users of automated fingerprint identification systems in North America. Since the North American region has a high crime rate, the integration of automated fingerprint identification systems with criminal records and other policing systems helps the law enforcement agencies tackle criminals more effectively and maintain law and order. Furthermore, North America is the most preferred destination for immigrants from around the world. Each year, 100,000 immigrants arrive in North America for various purposes. They need to be documented upon arrival, and the adoption of an automated fingerprint identification system has simplified and increased the speed of the documentation process. BFSI industries North America has also implemented an automated fingerprint identification system into its systems in order to reduce the risk of financial fraud and provide secure authentication to its customers.

Segment Covered

The report on global automated fingerprint identification systems market covers segments such as component, identification type, and end user. On the basis of component, the sub-markets include software, hardware, and services. On the basis of identification type, the sub-markets include tenprint identification, and latent print identification. On the basis of end user, the sub-markets include BFSI, healthcare, government, transportation, automotive, and others.

Companies Profiled:

The report provides profiles of the companies in the market such as Fujitsu Limited, Sonda Technologies, NEC Corporation, Gemalto NV, Robert Bosch GmbH, SUPREMA, DERMALOG Identification Systems GmbH, Thales Group, HID Global Corporation, and Aware, Inc.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the automated fingerprint identification systems market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.